Project
Queensway Orthodontics (QO), a growing specialist dental business, planned to acquire 3 new properties in the North East. The properties were, however, new ventures on new orthodontic contracts, and could not show a full financial trading history. On their behalf, Lloyds Bank instructed Eddisons Newcastle to provide the necessary loan security valuations, which needed to show the trading business as a going concern.
Approach
We consulted with QO, analysed their trading forecasts, proposed staff costs and building refurbishment costs. We then produced a fair maintainable trade assessment of the three new sites, using our analysis of the specialist dental sector to complete the valuations. We kept Lloyds fully informed of progress at all times.
Results
We produced a detailed loan security valuation on time, allowing Lloyds to provide QO with the secured commercial loans needed to complete their acquisitions. QO has now since successfully opened the sites, serving dental patients in County Durham and the wider north east.
